Raymond James & Associates lowered its stake in Applied Materials (NASDAQ:AMAT) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 769,194 shares of the manufacturing equipment provider’s stock after selling 33,230 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Applied Materials worth $39,321,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its stake in Applied Materials by 1.8% in the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after purchasing an additional 1,248,388 shares during the period. Geode Capital Management LLC boosted its stake in Applied Materials by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 12,968,458 shares of the manufacturing equipment provider’s stock worth $661,743,000 after purchasing an additional 234,528 shares during the period. Janus Henderson Group PLC boosted its stake in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock worth $630,146,000 after purchasing an additional 650,755 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Applied Materials by 10.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after purchasing an additional 1,033,700 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in Applied Materials by 2.2% in the 3rd quarter. Epoch Investment Partners Inc. now owns 10,859,674 shares of the manufacturing equipment provider’s stock worth $565,681,000 after purchasing an additional 235,793 shares during the period. Institutional investors and hedge funds own 79.29% of the company’s stock.
AMAT has been the subject of several analyst reports. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Vetr downgraded Applied Materials from a “strong-buy” rating to a “buy” rating and set a $63.00 target price for the company. in a research note on Wednesday, January 17th. B. Riley restated a “buy” rating and issued a $71.00 target price on shares of Applied Materials in a research note on Tuesday, January 16th. ValuEngine raised Applied Materials from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus raised their price target on Applied Materials from $66.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Applied Materials has an average rating of “Buy” and an average target price of $64.66.
In related news, Director Thomas J. Iannotti sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $61.47, for a total transaction of $922,050.00. Following the transaction, the director now directly owns 76,967 shares in the company, valued at approximately $4,731,161.49. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.
Shares of NASDAQ AMAT opened at $52.34 on Friday. The stock has a market cap of $58,376.17, a P/E ratio of 16.10, a PEG ratio of 0.95 and a beta of 1.63. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.96. Applied Materials has a 1-year low of $37.41 and a 1-year high of $62.40.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the firm posted $0.67 EPS. equities analysts expect that Applied Materials will post 4.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.53%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. Applied Materials’s dividend payout ratio (DPR) is presently 12.31%.
Applied Materials announced that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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